ACETO appoints Board member Bill Kennally as CEO

– USA, NY – ACETO Corporation (Nasdaq:ACET), an international company engaged in the development, marketing, sale and distribution of Human Health products, Pharmaceutical Ingredients and Performance Chemicals, announced that it has appointed William C. Kennally, III, as President and Chief Executive Officer effective October 2, 2017.

Salvatore Guccione, ACETO’s Chief Executive Officer has stepped down from all positions with Aceto effective today.

“As we continue to transition the company to one focused on human health and specifically finished dosage form generic drugs, Bill’s deep, multi-faceted experience gained over a 37-year distinguished career in the pharmaceutical arena and dynamic leadership are the attributes the board is looking for to drive strong long-term growth for ACETO. Having served on the ACETO Board of Directors for the past year, Bill has had first-hand involvement in crafting strategic direction for the company and in guiding discussions about managing the many issues arising from the changing generic drug distribution environment. As such he is well equipped to make immediate and positive contributions to the company,” said Chairman of the Board Albert Eilender. “On behalf of the Board I would like to thank Sal for his contributions to ACETO’s transition to a human health company during his tenure as CEO.”

Mr. Kennally commented, “I’m excited for this opportunity to utilize my management and leadership experience to lead the company to exciting new endpoints and deliverables. Over the past several years, ACETO has successfully laid the foundation for its transition to a human health company. I expect to build on that success while exploring and introducing new capabilities to strengthen the company’s competitive position in the generics drug industry.”

Mr. Kennally started his career in 1979 with The Upjohn Company which was later acquired by Pharmacia. During his career, Bill held positions of increasing responsibility within Pfizer and Pharmacia including President, Greenstone, LLC, a generic and authorized generic pharmaceuticals supplier which became a wholly-owned subsidiary of Pfizer, Inc. In 2010, Bill became Regional President North America; Global Established Products for Pfizer, and prior to his retirement in 2015 was Regional President North America Advisor, Global Established Pharma with Pfizer.

About ACETO

ACETO Corporation, incorporated in 1947 and with offices and operations in 10 countries, is engaged in the development, marketing, sale and distribution of Human Health products (finished dosage form generics and nutraceuticals), Pharmaceutical Ingredients (pharmaceutical intermediates and active pharmaceutical ingredients) and Performance Chemicals (specialty chemicals and agricultural protection products).

For more information : http://www.aceto.com

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Talent4Boards Team

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